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what should the transition to the fiscal cliff here? are you sleeping nights thinking about all this? or how are you viewing what's going on in washington right now? >> people ask me what keeps me awake at night. i said nothing is important to keep me awake at night. that doesn't really advance the ball, one might say. you know, i can see the outlines of the fiscal cliff being avoided right now. reading a little bit behind the scenes. all i'm doing is paying attention to what's going on out there. i don't have the inside information or anything. but it has to be done. it has to be fixed. and i assume it will be. and i often quote churchill. maybe even on your show once, bill. that said americans always do the right thing but only after they've tried everything else. so we've tried everything else. that leaves us for the right thing which is some tax increases and some cuts in long-term benefits, medicare, social security, and so on. >> in which case and i hate saying this because it obviously shoots ourselves in the foot. are you advoca
what should the transition to the fiscal cliff here? are you sleeping nights thinking about all this? or how are you viewing what's going on in washington right now? >> people ask me what keeps me awake at night. i said nothing is important to keep me awake at night. that doesn't really advance the ball, one might say. you know, i can see the outlines of the fiscal cliff being avoided right now. reading a little bit behind the scenes. all i'm doing is paying attention to what's going on...
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i say fiscal cliff, david, you say? >> we have a short-term ficscal cliff. we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts, there will be a foot race to fire people if we don't get this cliff taken care of which is why if we're going over the
i say fiscal cliff, david, you say? >> we have a short-term ficscal cliff. we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press"...
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president obama discussing the fiscal cliff. let's listen in. >> make sure your kids can go to a good school. make sure they can aspire to whatever they want to be. that idea is what built america. that's the idea that built michigan. that's the idea that's at the heart of the economic plan i've been talking about all yearlong on the campaign trail. i want to give more americans the chance to earn the skills that businesses are looking for right now and give our kids the kind of education they need to succeed in the 21st century. i want to make sure america leads the world in research and technology and clean energy. i want to put people back to work rebuilding our roads and our bridges and our schools. that's how we grow an economy. i want us to bring down the deficits but i want to do in it a balanced, responsible way. and i want to reward -- i want a tax code that rewards businesses and manufacturers like detroit diesel right here creating jobs right here in redford, right here in michigan, right here in the united states of
president obama discussing the fiscal cliff. let's listen in. >> make sure your kids can go to a good school. make sure they can aspire to whatever they want to be. that idea is what built america. that's the idea that built michigan. that's the idea that's at the heart of the economic plan i've been talking about all yearlong on the campaign trail. i want to give more americans the chance to earn the skills that businesses are looking for right now and give our kids the kind of education...
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we also have news coming up on republican plans to avert the fiscal cliff. we're going to be talking about that, but first let's get to today's data download. stocks unable to hold on to early gains with the dow and s&p snapping a three-session winning streak. the blue chip average crossed the unchanged line 23 times before finally dipping into negativer territory. materials and industrials were today's worst performers while telecom was the only one of the s&p sectors to post any kind of gains. u.s. construction spending seeing a nice bump in october, the commerce department reporting spending rose 1.4% last month. this was well above what was expected. the analysts said it was going to bump .5%. private construction, spending rose 1.6% while spending on public projects rose .8%. and the u.s. manufacturing sector slipping into contraction last month. we got good news/bad news. falling to its lowest level in nearly three and a half years. the ism manufacturing index cropped to 49.5 in november from 53.7 in october, a reading below 50 indicates contraction. n
we also have news coming up on republican plans to avert the fiscal cliff. we're going to be talking about that, but first let's get to today's data download. stocks unable to hold on to early gains with the dow and s&p snapping a three-session winning streak. the blue chip average crossed the unchanged line 23 times before finally dipping into negativer territory. materials and industrials were today's worst performers while telecom was the only one of the s&p sectors to post any kind...
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get to the fiscal cliff in a second. but first, the job report this morning, 7.7% unemployment because so many people left the workforce. 146,000 jobs. the question a lot of people are asking is when are we going get back to good honest job creation to grow the economy? what is it going to take? >> political will in a word. what is interesting about the jobs numbers and the economy in general is that it's not so much the fundamentals of the economy. businesses who hire people who create jobs which nancy pelosi is looking for are looking for political will out of washington. they are looking for certainty on the fiscal cliff. certainty that debt reduction, there will be debt reduction, that entitlements will be brought under control. looking for certainty on taxe taxes. until this happens, there isn't going to be that certainly. i have to say that the republicans showed the political will. they stood up, to the conservative base. they put the re-knews on the table. what troubles me -- now that the ball is in the white hou
get to the fiscal cliff in a second. but first, the job report this morning, 7.7% unemployment because so many people left the workforce. 146,000 jobs. the question a lot of people are asking is when are we going get back to good honest job creation to grow the economy? what is it going to take? >> political will in a word. what is interesting about the jobs numbers and the economy in general is that it's not so much the fundamentals of the economy. businesses who hire people who create...
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we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it needs efforts. let's make them short for a better future. i think we should be ready as a corporation, being ready for maybe a year of difficult market, difficult situation in the market because that is a ceiling on our growth in terms of economical growth as to be released. it's really me an investment for the future. >> you're seeing a similar situation in france where we're talking about the possibility of capital gains taxes and dividend taxes going much higher. what will that do to the investor class, to the entrepreneurialism that we're seeing
we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it...
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but everybody's worried about retail and fiscal cliff, carl and fiscal cliff was mentioned in the release. it's become something carl that we are expecting in every release that we see. >> we do have a couple of seconds to point out that last night in cable fax awards, two nights ago, you were named to the hall of fame. >> yes, thank you very much. kind of proud, i dedicated by admission to mark haines who put me on tv. when david and joe would do "squawk box," he put me on tv. and mark was inducted into the hall of fame last year, because he said there's room for like guys that were bald and fat. right then i was trading at 2.15. now it's a point lower. >> no free passes. >> well deserved, congratulationings from all of us. you're going to stick arounder for lululemon. >> speaking of which, coming up, the ceo of lululemon will talk to us about the holiday season. and apple, a slide back into u.s. territory. [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby a
but everybody's worried about retail and fiscal cliff, carl and fiscal cliff was mentioned in the release. it's become something carl that we are expecting in every release that we see. >> we do have a couple of seconds to point out that last night in cable fax awards, two nights ago, you were named to the hall of fame. >> yes, thank you very much. kind of proud, i dedicated by admission to mark haines who put me on tv. when david and joe would do "squawk box," he put me...
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we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether the age of the supersized bank is over and the massive life change he made off of the sidelines and into a real football game. let's get to the floor show. we have freighters at the stock exchange, cme group and nynex. give me your thoughts. we go through grinding higher as far as the broader markets are concerned except for the russell which is looking weaker right now. just turned positive. we are all green for the major indices. does this continue through tomorrow? >> hard to tell. if you look at the way the markets have traded on an intraday basis we have
we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether...
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the jersey shore about to meet the fiscal cliff. grim news for governor christie as he visits washington. >>> plus the controversial place to store your text messages. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. without freshly-made pasta. you could also cut corners by making it without 100% real cheddar cheese. but then...it wouldn't be stouffer's mac & cheese. just one of over 70 satisfying recipes for one from stouff
the jersey shore about to meet the fiscal cliff. grim news for governor christie as he visits washington. >>> plus the controversial place to store your text messages. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. bp has paid overthe people of bp twenty-threeitment to the...
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i think that the ramifications of the fiscal cliff, um, will be important. i'm optimistic that we're going to get some leadership in washington that'll actually save us from having to go off that cliff or down that hill, if you will. but i think we are -- there's uncertainty. and whenever there's uncertainty, the market will have less volume in it. liz: tom kloet, good to see you. >> thanks for having me. liz: ceo of the tmx group. david: a u.s. plant right in the heart of canada. they don't realize it yet. [laughter] good to see you. >> thank you. david: well, is now the time to buy apple? a morningstar senior equity analyst thinks so and says some of the blame for the recent decline should fall on washington. why? find out why, coming next. liz: plus, choice hotels expanding its upscale brand right here in america. they must believe that there's a real market here. find out why they're starting three brand new upscale ones at least here in new york. steve joyce, choice hotels ceo and president, joining us after the break. ♪ music is a universal language.
i think that the ramifications of the fiscal cliff, um, will be important. i'm optimistic that we're going to get some leadership in washington that'll actually save us from having to go off that cliff or down that hill, if you will. but i think we are -- there's uncertainty. and whenever there's uncertainty, the market will have less volume in it. liz: tom kloet, good to see you. >> thanks for having me. liz: ceo of the tmx group. david: a u.s. plant right in the heart of canada. they...
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good data on one fis, fiscal cliff fears on the other. if we hit the cliff, is defense done as an investment? we'll find out. >>> plus the latest on why fast food workers are working to unionize and maybe even strike across america. >>> and the scary story about the surge in spooks. how spies apparently are everywhere now, mandy. >> and you wouldn't even know. >>> let's load you up on some vital stats. firstly, december is historically the best performing month of the year but today the dow and s&p are down for the first time in four days. dow was up 61 points before the disappointing ism data at 10:00 a.m. this morning. it has never recovered. s&p is flirting with a three-week high even though it is slightly lower. nasdaq touched a one-month high earlier on. >>> never doubt the power of of the american consumer is what we always say here on "street signs." holiday shopping season is in full swing and that, my good people, has propelled the s&p retail next to a record high early again today, though as we speak it is slightly lower. let's
good data on one fis, fiscal cliff fears on the other. if we hit the cliff, is defense done as an investment? we'll find out. >>> plus the latest on why fast food workers are working to unionize and maybe even strike across america. >>> and the scary story about the surge in spooks. how spies apparently are everywhere now, mandy. >> and you wouldn't even know. >>> let's load you up on some vital stats. firstly, december is historically the best performing month...
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back to you. >>> fiscal cliff looming of course. corporate boards at the world's largest pensions and sovereign wealth funds have very hard decisions to make about risk and asset allocation. how do you generate returns and manage volatility in this kind of environment where there's so much you can't control? global head of institutional clients with jpmorgan asset management, welcome. i'm going to ask something that may be counter intuitive to a lot of people. maybe not to you. it seems to me your clients, institutions, pensions, endowments, are tax exempt. they don't have to worry quite as much it would seem to me about avoiding dividend taxes or capital gains taxes as ordinary individuals. am i right about that or wrong? >> yes and no. the point being if the fiscal cliff you look at china, eurozone, it is all coming together to create an environment of total uncertainty for a lot of the biggest investors in the world. pension funds in the u.s. are trying to manage the volatility of the funding levels, generating return. think of w
back to you. >>> fiscal cliff looming of course. corporate boards at the world's largest pensions and sovereign wealth funds have very hard decisions to make about risk and asset allocation. how do you generate returns and manage volatility in this kind of environment where there's so much you can't control? global head of institutional clients with jpmorgan asset management, welcome. i'm going to ask something that may be counter intuitive to a lot of people. maybe not to you. it...
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a gop counteroffer on the fiscal cliff is just being released. let's go to e-mailen j amon jav >> they say boehner is offering multi-step solution here, including what he's after is $800 billion in revenue through tax reform. that's obviously significantly less than the $1.6 trillion the president asked for his-n his initial offer last week. other details in this offer being reported by nbc. health savings of $600 billion. other mandatory savings of $300 billion. a revision to cpi of $200 billion. and further discretionary savings of $300 billion. guys, it looks like the horse trading is alive and well here in washington. now this offer being extended from the republicans. you can assume that the white house will not think this is enough tax revenue to go forward, but, of course, offers are being exchanged here so that's a sign negotiations are under way, guys. >> let's get into the details here. $600 billion in health savings. what does that mean for medicare? break it down in terms of where these savings come from. >> i wish i could. what we do
a gop counteroffer on the fiscal cliff is just being released. let's go to e-mailen j amon jav >> they say boehner is offering multi-step solution here, including what he's after is $800 billion in revenue through tax reform. that's obviously significantly less than the $1.6 trillion the president asked for his-n his initial offer last week. other details in this offer being reported by nbc. health savings of $600 billion. other mandatory savings of $300 billion. a revision to cpi of $200...
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worries about the fiscal cliff, is going to drive u.s. dollar higher. i think the ecb trichet is worrisome. of course you have to pair it against another currency, the australian dollar. the rba is cut about 175 basis points over the last year so australia is really kind of begging to be sold. technically speaking it's in this long-term consolidation i'm sure dennis is watching, fx traders like me are dying to sell this long-term consolidation up around the 1.05 level. i'd love to get short aussie in nfp. >> give me your level and we'll debt dennis' reaction. >> short at 1.0525 and put a stop off on 1.0625 and about 1.03 we can ring the register. >> denis? >> i've got the other side of trade, i'm long of the dollar against the japanese yen, it's been working and i'll continue to do it. if it takes out 1.0525. >> you must be bullish on stocks. >> i'm very bullish on the stock market absolutely. >> todd good to see you. for more trades watch "money in motion" tomorrow 5:30 p.m. eastern time. next up on "halftime" sell the winners and buy the losers, "hold
worries about the fiscal cliff, is going to drive u.s. dollar higher. i think the ecb trichet is worrisome. of course you have to pair it against another currency, the australian dollar. the rba is cut about 175 basis points over the last year so australia is really kind of begging to be sold. technically speaking it's in this long-term consolidation i'm sure dennis is watching, fx traders like me are dying to sell this long-term consolidation up around the 1.05 level. i'd love to get short...
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and in part, they cite the fiscal cliff. i think if you were out there, you would get answers that would not necessarily describe it correctly. >> it's a shame it's called fiscal cliff. and called radical tax increase. it was meant to cause a recession. the government felt in its infinite wisdom that -- >> you think it's a radical tax increase? >> i think so, yeah. i think you'll notice it in your paycheck for certain. >> that's absolutely for sure. >> your first check, second paycheck, then you get the chaos that bowles mentioned. and the chaos is, wow, i have much less to spend. i didn't know this was coming. alternative minimum tax being the silent killer who really understands how much more they have to pay, check at the end of the year. do the math. >> we saw it in the consumer sentiment numbers, and what it will be when the increases actually go through. most of that decline in sentiment that we saw on friday was from households earning more than $75,000. a higher income in this survey, households felt it the most, eve
and in part, they cite the fiscal cliff. i think if you were out there, you would get answers that would not necessarily describe it correctly. >> it's a shame it's called fiscal cliff. and called radical tax increase. it was meant to cause a recession. the government felt in its infinite wisdom that -- >> you think it's a radical tax increase? >> i think so, yeah. i think you'll notice it in your paycheck for certain. >> that's absolutely for sure. >> your first...
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Dec 7, 2012
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it is important not just for the fiscal cliff. i think the country and actually the world is looking at washington saying can these guys work together in a collaborative bipartisan way to deal with fiscal issues, our entrepreneurship issues, we have to start building that bipartisan support. congress did come together, republicans and democrats, house and senate with support of the white house to pass the jobs act around access to capital for entrepreneurs so we have some example of that. hopefully that momentum will continue not just on the fiscal cliff in the coming weeks but issues like the start-up act 2.0 in the coming months. >> gentlemen, look good. steve and scott, come back and let us know how it went in cowboy stadium. >>> google plans to start charging small businesses for its free services like e-mail and google docs. will consumers like you be next? >>> and from 50 stradz of grshaf gray to 5,000 shades of green. employees at random house getting a big stocking stuffer this season. we'll explain. ears, ameriprise finan
it is important not just for the fiscal cliff. i think the country and actually the world is looking at washington saying can these guys work together in a collaborative bipartisan way to deal with fiscal issues, our entrepreneurship issues, we have to start building that bipartisan support. congress did come together, republicans and democrats, house and senate with support of the white house to pass the jobs act around access to capital for entrepreneurs so we have some example of that....
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concerned about the fiscal cliff. the new ford fusion model is being recalled for the second time in two weeks. were calling within 19,000 of its 2013 sudan's in the u.s. to replace faulty headlamps. the fusion and escape were recalled last year for a potential defect that could cause engine fire. credit card debt continues to be a top worry. many people are just simply using them less. many people plan to charge less than $500 this holiday season. that is the latest from the fox business network. giving you the power to prosper. ♪ can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially the who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical con
concerned about the fiscal cliff. the new ford fusion model is being recalled for the second time in two weeks. were calling within 19,000 of its 2013 sudan's in the u.s. to replace faulty headlamps. the fusion and escape were recalled last year for a potential defect that could cause engine fire. credit card debt continues to be a top worry. many people are just simply using them less. many people plan to charge less than $500 this holiday season. that is the latest from the fox business...
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is the fiscal cliff end game finally approaching? joining us now is ben white, politico's chief economic correspondent. ben, maybe it's good news they didn't come out and say, we're so far apart. >> it's a good sign. any time that boehner doesn't come out and say, we're nowhere, that's good. these things are going to get done in private. both sides need to leap off a bridge here. the republicans need to some how figure out how they're going to let the top rates go up. democrats need to swallow some changes to entitlement programs, raising the retirement age or changes. the less we hear, the better, in the next few days on the negotiations. as soon as you hear leaks saying these guys are too far apart, that's the problem. if we hear nothing, that's actually pretty good. >> are we starting to see the beginning of the gop move into the center with the comments over the weekend from senator corker and this morning, letting the tax rates go higher so the shift can be, the time shift can be spent on entitlements. >> the republicans some ho
is the fiscal cliff end game finally approaching? joining us now is ben white, politico's chief economic correspondent. ben, maybe it's good news they didn't come out and say, we're so far apart. >> it's a good sign. any time that boehner doesn't come out and say, we're nowhere, that's good. these things are going to get done in private. both sides need to leap off a bridge here. the republicans need to some how figure out how they're going to let the top rates go up. democrats need to...
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>>> the fiscal cliff, the fiscal cliff, just 23 days away and if we go over it, automatic spending cuts will take effect, automatically, bam. todd schoenberger is back with me from new york. we spent some time taking questions from viewers who want 20 know how the fiscal cliff will affect them. what will make the headlines? >> bottom line is this, that is if nothing is resolved right now, we are looking at a 20% increase across the board for tax revenue for washington. and you hear a lot about these spending cuts but realistically, we won't see a whole lot of spending cuts, because this way this was actually createded, we would only see spending cuts of .25%. >> one coming from edgar, he says i'm not confused about the fiscal cliff, what i'm confused about is what taxes will be raised? >> that's right. well the payroll tax holiday, it was created in 2010, it had a two-year tax extension, it expires on december 31st. this is a 2% payroll tax that all americans were enjoying. if nothing is resolved, your first paycheck in january is going to be 2% lighter. that may not sound like a lot. b
>>> the fiscal cliff, the fiscal cliff, just 23 days away and if we go over it, automatic spending cuts will take effect, automatically, bam. todd schoenberger is back with me from new york. we spent some time taking questions from viewers who want 20 know how the fiscal cliff will affect them. what will make the headlines? >> bottom line is this, that is if nothing is resolved right now, we are looking at a 20% increase across the board for tax revenue for washington. and you...
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it could be called the ultimate fiscal cliff trade. find out which investment americans are pouring into. much more straight ahead. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. >>> welcome back to "fast money." oracle the latest company making a tax dividend. going to pay out a total of more than $850 million
it could be called the ultimate fiscal cliff trade. find out which investment americans are pouring into. much more straight ahead. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. music is a universal...
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Dec 5, 2012
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but how about the fiscal cliff? we're going to show you the real impact on americans' wallets and some stats to make you go -- hmm. apple slammed but the dow doesn't care. the indexes are higher as some break-away republicans are giving investors hope that a deal will get done. but will apple win the online music battle? >>> why pandora is being boxed out today. >>>ed unintended consequences of all these one-time dividends. mandy's off today so let's welcome in courtney reagan. >> thank you very much, brian. >>> blue chips are ruling the roost on wall street today. the dow bouncing back from morning loss to post triple digit gains. travelers, caterpillar and chevron accounting for a big chunk of that advance. >>> apple having its worst day in four months. pushing the nasdaq into negative territory. >>> bob, apple is lower than 4% -- we're going to toss it back to brian. >> courtney, hold your horses. >>> but first we've got to get a big development on the fiscal cliff negotiations. at this point we are still just a
but how about the fiscal cliff? we're going to show you the real impact on americans' wallets and some stats to make you go -- hmm. apple slammed but the dow doesn't care. the indexes are higher as some break-away republicans are giving investors hope that a deal will get done. but will apple win the online music battle? >>> why pandora is being boxed out today. >>>ed unintended consequences of all these one-time dividends. mandy's off today so let's welcome in courtney...
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host: we are focusing on the fiscal cliff. the campaign to fix the debt which is one of the organizations you write in your piece tww former senator allen simpson. >> stop instagramming your breakfast and getting on youtube so you can see gangnam style and start using those precious social media skills to go out and sign people up on this, three people a week, let it grow and don't forget take part or get taken apart. these old coats will clean out the treasury before you get there. guest: i have read about him n. washington it's better -- i've never seen a senator do the dance quite like that. host: the campaign to fix the debt has grown to 80 employees with 22 state offices and 2500 small businesses that have joined this campaign. guest: it's strat fear i can. i don't think i've seen the level because it's c.e.o. led so it's gotten a bunch of buzz. both chambers wants to meet with them and the white house wants to meet with them and it's created an interesting wrink toll see if they move on the other issues or if this is suc
host: we are focusing on the fiscal cliff. the campaign to fix the debt which is one of the organizations you write in your piece tww former senator allen simpson. >> stop instagramming your breakfast and getting on youtube so you can see gangnam style and start using those precious social media skills to go out and sign people up on this, three people a week, let it grow and don't forget take part or get taken apart. these old coats will clean out the treasury before you get there....
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it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox news sunday. plus, we've seen this movie before. the two parties edging closer and closer to the brink. we will ask our sunday panel whether we will get a happy ending or an economic disaster. and our power player of the week. a young beauty queen has to make a tough choice. all right now on fox news sunday. >> hello again from fox news in washington. well, we had quite a day around here friday with talks to avoid the fiscal cliff deadlock, and everyone saying the other side is to blame, pressure secretary geithner scheduled a ground of interviews. then friday afternoon, speaker boehner's office call
it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox...
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Dec 7, 2012
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cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best spokesman for conservatism. >> no, no. >> we should put a paul ryan -- we need younger leadership. >> paul ryan came out publicly in support of boehner. that's point number one. secondly, boehner jumped ryan over more senior people to put him as head of the budget committee. that's my second point. and boehner himself is being advised by ryan every step of the way. >> what do you say about this purge then? he's purging people that wants to balance the budget. >> you lost, ron. don't blame boehner. blame the republican party. blame conservatives. jim demint sa
cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best...
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Dec 6, 2012
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one is the fiscal cliff. you're one of the keener minds in great britain. what do you make of what's going on in america? the expression, if america sneezes, we all catch a cold back in europe, is as true as ever. what do you think should be hopping here to get a deal to avoid the fiscal cliff happening? >> i have no doubt that people are working hard to get a deal. we have the president re-elected and have a new congress, think it's right they get down to the business of sorting this out. i think america's got to think that what it needs to do is get growth in its economy, as well. and it needs to get growth by trade and exporting. and i think what we're missing at the moment is a global agreement whereby the big powers try to work on the economy. you have to have fiscal problems and you also have to have growth. that's the key for the future. there's a global deal waiting to be done, with china, europe, india also involved in this, and of course, america itself, where we could build the confidence that's necessary to get high levels of growth around the w
one is the fiscal cliff. you're one of the keener minds in great britain. what do you make of what's going on in america? the expression, if america sneezes, we all catch a cold back in europe, is as true as ever. what do you think should be hopping here to get a deal to avoid the fiscal cliff happening? >> i have no doubt that people are working hard to get a deal. we have the president re-elected and have a new congress, think it's right they get down to the business of sorting this...
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Dec 5, 2012
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fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game. because we have to break that habit before it starts. >> bret: what about that? >> well, the president had as many red lines for iran as for house republicans. i think what kirsten said is absolutely remarkable. it is about the scalp. it's about the president having made a campaign argument for the better part of 2012. so that he could run a class warfare campaign. now having to make good on that with the base of his party. the u.s. economy be damned. the republicans offered to give so much and offering precisely what erskine bowles laid out as a compromise position in
fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game....
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Dec 4, 2012
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do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not air box, it's a beltway here. and we are in this debt mania. there is a long term crisis on debt. i think david would agree with that. if you actually go back and read what my old boss and his partner wrote almost two years ago now, they said these things, these cuts in tax increases should be back loaded so we don't damage the economy. in the president's proposal, he does have a small infrastructure bank program to try to jump-start some growth, so i think it's a good idea. raising tax rates on the rich. i saw your interview with senator coburn. he is
do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not...
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Dec 7, 2012
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>> the biggest risk is fiscal cliff. it is a weak fourth quarter. we could have a much better year if we choose to avert the fiscal cliff and move toward credible deficit reduction. if we don't, i think that's the real critical bet is will we get there or not? >> good to see you both. have a great weekend. thank you very much. >>> simon mentioned we're going to get exclusive reaction to today's job report from goldman sachs chief economist jan hatzius straight ahead. >> who better to sit down and talk with than whirlpool. >> announcer: the number is out. >> november nonfarm payrolls increased by 146,000 jobs. >> announcer: were you able to nail the number? if so, you may be the winner of this picture frame signed by the "squawk on the street" gang. find out if it was you later on "squawk on the street." if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build
>> the biggest risk is fiscal cliff. it is a weak fourth quarter. we could have a much better year if we choose to avert the fiscal cliff and move toward credible deficit reduction. if we don't, i think that's the real critical bet is will we get there or not? >> good to see you both. have a great weekend. thank you very much. >>> simon mentioned we're going to get exclusive reaction to today's job report from goldman sachs chief economist jan hatzius straight ahead....
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Dec 6, 2012
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talking fiscal cliff we think. that's next. >> i --. >> [inaudible]. >> i did not understand his statement in the way you characterized it. i think the way i heard it and way i think it was not as a threat we'll go over if they don't, it was a prediction if there is no agreement, then, the fiscal cliff has to be dealt with. but i didn't see it as if they don't do this we do that. i saw it as a statement of fact. it is not a threat. it is a prediction. if there is no agreement, go over the cliff. let's hope we can have an agreement. jon: those remarks just into our fox newsroom from house minority leader nancy pelosi moments ago saying republicans are avoiding the conversation on the fiscal cliff. meantime we're awaiting new reaction from white house press secretary jay carney. there is a live look at the podium in the west wing. you can see it is empty right now. jay carney should be stepping up to the microphone momentarily and we expect the topic a is going to be the fiscal cliff and the white house position on i
talking fiscal cliff we think. that's next. >> i --. >> [inaudible]. >> i did not understand his statement in the way you characterized it. i think the way i heard it and way i think it was not as a threat we'll go over if they don't, it was a prediction if there is no agreement, then, the fiscal cliff has to be dealt with. but i didn't see it as if they don't do this we do that. i saw it as a statement of fact. it is not a threat. it is a prediction. if there is no agreement,...
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tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not affected by the top 2 percent. having said that, they want people to get back to work. people to have jobs to have incomes to buy from the small business people. blue are small or large you want to know which, how are the laws going to be, what are the tax lie bills going to be, and this congress owes it to the american people to tell them. >>eric: congressman, america has always been about hard working people earning, creating jobs, creating opportunity, passing a better life on to the next generation, to their kids, i don't know, at some point maybe you say it is time to man up, go over the fiscal
tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not...
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going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do willingly, make dramatic changes in taxes and spending. if those changes happen automatically,
going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013....
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the fiscal cliff. what it could 3 3 -tease countdown to christmas- day ttrough christmas evv.ery under the tree.so stay tuned t for your chance to win! 3 ,3 breaking news... a late night fire takes the life of an elderly man in baltimore county.two fire fighters were plso innured. injured.megan giililand is streaming now on the scene right now with the latest at this hour. good morning guys, guys, 3 3 3 3 an scaped inmate áand áa suspect chase cause two city yesterday.police are searching for this man..... 25 year old travis lee wildes.he was last seen arouud 12:15, wedneday afternoon... after walking away from a prison work detail. while police were loooing for wildes.... a similar scene was playynggout across town.... a drug suspect being chased y officers ran inside collington square elementary school.parents showed up at both schools.... anxious for answers. 38:21 they said the children were fine ouucan take your kids out. then they said the &pboy ran and ran back out. they're not calling anyone
the fiscal cliff. what it could 3 3 -tease countdown to christmas- day ttrough christmas evv.ery under the tree.so stay tuned t for your chance to win! 3 ,3 breaking news... a late night fire takes the life of an elderly man in baltimore county.two fire fighters were plso innured. injured.megan giililand is streaming now on the scene right now with the latest at this hour. good morning guys, guys, 3 3 3 3 an scaped inmate áand áa suspect chase cause two city yesterday.police are searching for...
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could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those jobs are coming from and a charge that the company plans to take in the fourth quarter because of these job cuts even though it expects them to generate $900 million in cost savings next year. interestingly this is the first move toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts
could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those jobs are coming from and a charge that the company plans to take in the fourth...
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Dec 10, 2012
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economy from going off the fiscal cliff in the new year. in fact, most experts believe a framework deal must be reac reached this week, most likely by thursday to give the house, ways and means and the senate finance committee several days to work the deal to legislative language. since it will be complex, likely to increase re-knew and cut entitlement spending if the lawmakers want a cost estimate with nonpartisan numbers from the congressional budget office, it would require several more days. the house g.o.p. requires that the bill be posted for parts of three days which means early next week in order for votes by the end of next week. veterans of past capital hill battles note the whip operation convincing lawmakers to vote for the legislation they barely seen will be critical. >> likely that both sides, the president and the speaker are going to have to twist arms, they are going to have to call people. they are going, you know, do anything they can to push a deal over the line. >> with christmas eve in two weeks, the president, lawmak
economy from going off the fiscal cliff in the new year. in fact, most experts believe a framework deal must be reac reached this week, most likely by thursday to give the house, ways and means and the senate finance committee several days to work the deal to legislative language. since it will be complex, likely to increase re-knew and cut entitlement spending if the lawmakers want a cost estimate with nonpartisan numbers from the congressional budget office, it would require several more...
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Dec 10, 2012
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cheryl: and fiscal cliff fire sale. you will not believe what is going on in the hamptons' real estate market. we have a broker who says he can save you up to a million bucks on a home just like this one. deb dennis only 17.7mil. nicole petallides at the new york stock exchange. seeing green. >> reporter: nice little bargain there. hey, if you're saving a million oo more, that's a good bargain. we are seeing green across the board here, right now the dow jones industrials up one-quarter of 1%. let's take a look at the major averages, the dow jones industrials up 28 points, the tech-heavy nasdaq, we are seeing a lot of the tech stocks leading the way, but the composite is up 12 points almost half a percent in the s&p 500. also a winner. but let's take a lock at mcdonald's, one of the better performers on the dow. same-store sales were actually up, finally, once again because in october the same-store sales declined for the first time in nine years. so people began to worry. but, don't worry, because mcdonald's posted gai
cheryl: and fiscal cliff fire sale. you will not believe what is going on in the hamptons' real estate market. we have a broker who says he can save you up to a million bucks on a home just like this one. deb dennis only 17.7mil. nicole petallides at the new york stock exchange. seeing green. >> reporter: nice little bargain there. hey, if you're saving a million oo more, that's a good bargain. we are seeing green across the board here, right now the dow jones industrials up one-quarter...
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next, how cherry's could be the latest victim in the fiscal cliff talks. the president of the united way joins me next. gerri: coming up, the war over charitable deductions. will they survive the fiscal cliff? is it a tax deduction for the rest next? >> reporter: ♪ gerri: one source of new revenues under discussion in the fiscal of today limiting deductions for the wealthy, even charitable deductions. it's a controversial idea that has cut and a lot of attention following a recent washington post op-ed. overwhelmingly the charitable deduction benefits the wealthy. here to discuss, president of independent sector and stacey stewart, president of the united weight both of whom met at the white house with the president. white house officials pleading there case. i can't imagine having to better guess for this segment. i want to start with this idea because it kind of blew me away when i saw. a major beneficiary for the charitable deddction, the %-i thought what about that charities and all the people who do -- to rely on them for there good work. let's star
next, how cherry's could be the latest victim in the fiscal cliff talks. the president of the united way joins me next. gerri: coming up, the war over charitable deductions. will they survive the fiscal cliff? is it a tax deduction for the rest next? >> reporter: ♪ gerri: one source of new revenues under discussion in the fiscal of today limiting deductions for the wealthy, even charitable deductions. it's a controversial idea that has cut and a lot of attention following a recent...
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Dec 9, 2012
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first, the bad news, it is just tweet days until the fiscal cliff deadline. the good news, only 17 days the mayans say we're all going to die so who cares about the fiscal cliff! exactly. >> we would like to announce we have reached an agreement to avoid a fiscal cliff. in order to get the support of the speaker, i agree there will be no tax increases. i repeat, zero tax increases. now, why would i do that? i mean, i won the election. ( laughter ) i have the leverage. why give in? well, simply put-- i felt sorry for this man. >> is there a prospect for a deal? >> there's not a prospect for a deal. >> of course! it. >> the ongoing talks. >> there aren't even very many talks going on. ( laughter ) >> you're kidding us! give us something! >> but for the first time, there are numbers on pieces of paper from both sides. >> numbers on paper! ( cheers and applause ) ( laughter ) >> schieffer: that is our "face the nation" flashback. one note to major garrett. major, i was here 10 years before people thought i was important enough, and you are off to a fine start. >>
first, the bad news, it is just tweet days until the fiscal cliff deadline. the good news, only 17 days the mayans say we're all going to die so who cares about the fiscal cliff! exactly. >> we would like to announce we have reached an agreement to avoid a fiscal cliff. in order to get the support of the speaker, i agree there will be no tax increases. i repeat, zero tax increases. now, why would i do that? i mean, i won the election. ( laughter ) i have the leverage. why give in? well,...
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Dec 3, 2012
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what you're talking about is where we solve this fiscal cliff by creating another fiscal cliff down the road is totally immature. it lacks political courage. we know what needs to be done, and let's get it done over the next three weeks. the options are not going to change. >> would you call on your party not to mount that sort of opposition to the president if he specifies how he's going to restructure medicare? >> i think that both -- look, i have laid out in great detail very painful cuts to medicare. i just did it in a 242-page bill that i have shared with the white house, shared with boehner, shared with mcconnell, in order to move us beyond this silly debate that's taking place. the fact is, claire knows this and i know this. there are serious reforms that have to take place in medicare for our country to become solvent. >> well, we have to be careful. and you're right about this, david. what is really irresponsible, that $716 billion, that was low-hanging fruit. that was fluff in the medicare system, savings that we had to recover. and by the way, it's the same savings that was i
what you're talking about is where we solve this fiscal cliff by creating another fiscal cliff down the road is totally immature. it lacks political courage. we know what needs to be done, and let's get it done over the next three weeks. the options are not going to change. >> would you call on your party not to mount that sort of opposition to the president if he specifies how he's going to restructure medicare? >> i think that both -- look, i have laid out in great detail very...
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politicians are taking a cue from november's playbook to get their message out about the fiscal cliff. >>> and a highway tunnel comes crashing down while cars are inside, igniting a fire. several people may still be trapped. [ gordon ] for some this line is a convenience. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today. join me, aarp, and aarp foundation in the drive to end hunger by visiting drivetoendhunger.org. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. but when i was in an accident..
politicians are taking a cue from november's playbook to get their message out about the fiscal cliff. >>> and a highway tunnel comes crashing down while cars are inside, igniting a fire. several people may still be trapped. [ gordon ] for some this line is a convenience. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today....
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and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama proposals by saying you're not cutting spending, you're not coming to us on entitlements, but it's falling flat. no one's really listening and the white house has controlled the debate that it's all about the upper 2%. the first thing in texas you do is shrink the size of government, wouldn't you? >> well, we did that. we faced a substantial budget shortfall. we have a constitutional amendment that requires us to have a balanced budget, which frankly america needs that. >> i don't know what would happen. >> most states have that. >> the states that are -- i
and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama...
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the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with eric's take? is the right strategy for republicans to stick to their guns, forget about compromise? >> no. i really don't -- eric is one of my favorite people. we talk a lot. but i think that, and i did work for the speaker gingrich during the shut-down fight in '96, and it did not work out well for republicans. the president has a much bigger bully pulpit than the speaker does. newt gingrich's bully pulpit was pretty big back in those days but at some point, republicans in the house -- and i think boehner is trying to look for ways to do this, speaker boehner,
the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with...
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Dec 8, 2012
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can you fix the fiscal cliff and send the economy downward. >> the fiscal cliff, isn't it having real impact in the economy now? >> it's having real impact and name pact will growth longer we take to come to a deal, some deal, any deal. what everybody wants, individuals who are going to be paid in january, they don't know how much and businesses, so what's the deal? what are -- what do we have to plan on? >> the best down payment would be to continue tax rates at the middle class for the rates they are, the best down payment. that's the best easy first step and i hope congress will realize take a step and take it now and give the president something he can sign. >> that has to be the last word. thanks, guys. >>> from the downward slope of the cliff to the upward climb on jobs, a big surprise in the november jobs numbers. it's a step in the right direction, but ali velshi will join me with a look at why we need to do much more. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their cl
can you fix the fiscal cliff and send the economy downward. >> the fiscal cliff, isn't it having real impact in the economy now? >> it's having real impact and name pact will growth longer we take to come to a deal, some deal, any deal. what everybody wants, individuals who are going to be paid in january, they don't know how much and businesses, so what's the deal? what are -- what do we have to plan on? >> the best down payment would be to continue tax rates at the middle...